Subsidiary: APA Suriname

In October 2024, APA, along with partner TotalEnergies, announced a positive final investment decision (FID) for the first oil development offshore Suriname. The project has been named GranMorgu, which is derived from a local language and means both “new dawn” and “goliath grouper.”

APA entered offshore Suriname in 2012 when it acquired Block 53 and expanded its position with the acquisition of Block 58 in 2015.

In December 2019, the company entered into a joint venture agreement with TotalEnergies to explore and develop Block 58 offshore Suriname.

GranMorgu will include production from the Krabdagu and Sapakara oil discoveries, where appraisal drilling confirmed gross estimated recoverable resources of more than 750 million barrels of oil. The Krabdagu and Sapakara South fields, located in water depths between 100 and 1,000 meters, are expected to be produced through a system of subsea wells connected to a floating production, storage and offloading (FPSO) unit located 150 kilometers off the Suriname coast, with an oil production capacity of 220,000 b/d.

APA holds a 50% working interest in Block 58, which comprises approximately 1.4 million gross acres in water depths ranging from less than 100 meters to more than 2,100 meters.

In 2022, the company announced an oil discovery at the Baja well in Block 53, where it has 45% working interest. The company and its partners (CEPSA and Petronas) relinquished a portion of Block 53 retaining the area near the Baja well.

Visit APA Corporation’s Investors page for the latest quarterly updates and disclosures.

Please note the data on this page is current as of Oct. 1, 2024.